Welcome to the round-up!
Below are the posts we read, found interesting and loved this week for a variety of reasons. They are inspiring and thought-provoking and we’d like to share them with you.
OUT OF YOUR RUT
This is a very informative article that analyzes not only the cost of your healthcare premium but also how much your employer’s contribution is as well. The number are stunning and grim. No surprise here that premiums are rising and so are deductibles. Healthcare is becoming unaffordable for more middle-income families. This is a problem that’s not going away. The healthcare system in America is totally broken and out of control. Can anyone reasonably guess what it will be like in 5, 10, or 20 years?
There’s a reason why some Americans are seeking treatment outside the US. The cost of healthcare services in the US is out of control.
From the article:
“These “hidden” charges and taxes do affect your life in profound ways. Employer benefit payments, backdoor taxes and worker’s comp can double the cost of an employee to an employer. The employer doesn’t just “eat” those shadow expenses either. They’re a large part of why you can’t get a decent raise or promotion, and why your employer needs you to do the work of two or three people in order to keep your job. They’re also a major reason why the price of everything seems to be higher than it needs to be.”
ONE TO A MILLION
Reporter Jill Cornfield has a great overview of what happened last week with President Trump’s executive order delaying the fiduciary rule. I’ll be weighing in on this topic this week as well. Stay tuned and stay informed. It’s your money.
Are you thinking about retiring abroad? I was featured this week at Escape Artist and they are a solid resource of information about travel, expatriation and retirement abroad.
This is an article that’s worth your time. You’re probably fooling yourself to some degree about how long your retirement funds will last and now is the time to have a plan of action to fix it, while you’re still working. Longevity means higher healthcare costs. The numbers are against you here and your dad’s retirement isn’t your retirement.
The author of the article, Walter Updegrave also points out assuming you’ll be able to have a side hustle after you retire is risky. Why not focus on it now?
From the article:
“Personally, I’m not exactly frugal—I just prefer to live like a grad student because it keeps life simple. Right now, my husband and I live on about 35% of what we make, net. We earn more than we used to, but we’ve been able to avoid lifestyle creep because our tastes haven’t shifted much and certainly haven’t improved much.
This is a great piece that profiles a couple working to retire early and discusses the fantastic journey of powerhouse finance blogger Mr. Money Moustache, Peter Adeney. One of the techniques they use to keep costs down is living a minimalistic lifestyle. This applies to a later retirement age as well, although it may take some downsizing first. The concept of, You can have anything you want. However, you can’t have everything you want, applies here.
Have a fantastic week!
Ian Bond is a private banking senior executive with over three decades of experience in wealth and asset management with Goldman Sachs, Credit Suisse, and Citigroup. He has built major businesses on four continents.
Despite his professional responsibility for assets over $100B and revenues over $1B, after the 2008 crash Ian was personally going broke. Within five years he destroyed his debt, became an expat in 2014, and built multiple streams of income to fund his imminent retirement. Ian is also the founder of MyRetirementRehab.me created to help other executives and professionals rehabilitate their finances and make a prosperous, enduring retirement a reality.